Table of contents:
- 1 Selling IOTA – what is the best way to sell the Crypto Coin?
- 1.1 Sell IOTA: Overview of the Crypto Coin IOTA
- 1.2 SELLING IOTA – WHAT IS THE INTERNET OF THINGS?
- 1.3 FURTHER AREAS OF APPLICATION FOR CRYPTO COIN IOTA
- 1.4 Sell IOTA Coin: What are the possibilities to trade the crypto currency?
- 1.5 USE CRYPTO STOCK EXCHANGES FOR SELLING IOTA
- 1.6 IOTA sell Bitfinex: With the Crypto Exchange you can use leverage in crypto trading
- 1.7 IOTA SELL BITFINEX: TRADING ON THE CRYPTO EXCHANGE IS VERY USER-FRIENDLY
- 1.8 IOTA Sell Binance: Trade with the crypto currency on the world’s largest crypto exchange
- 1.9 Conclusion: For IOTA selling, investors and traders can use various possibilities
Selling IOTA – what is the best way to sell the Crypto Coin?
How can I sell IOTA? We will go into this topic in detail below. We also answer the question how IOTA differs from other crypto coins. IOTA was developed in 2016 and can be traded since 2017. Meanwhile IOTA is one of the most popular crypto currencies worldwide (Top 20). Its market capitalization is currently around 600 million US dollars. IOTA is also a very interesting crypto currency because it does some things differently than Bitcoin, for example. In the following we will explain how to best buy and sell Crypto Coin.
- Overview of IOTA: Why doesn’t the crypto currency use block chain?
- What is the Internet of Things?
- What is the best way to sell IOTA?
- What are the advantages and disadvantages of the popular crypto exchanges Bitfinex and Binance?
Sell IOTA: Overview of the Crypto Coin IOTA
As just mentioned, IOTA differs in some things from other crypto currencies. For example, IOTA is not based on the block chain technology. The block chain can be thought of as a huge accounting system. The individual transactions are stored in blocks. As soon as the storage capacity of a block is exhausted, a new block is used. The peculiarity of the block chain in this context is that the blocks are linked together. This is done with the help of cryptographic methods. This ensures that the data cannot be changed afterwards. For this reason, the block chain is also well suited as a basis for digital currencies.
However, the block chain technology also has a major disadvantage: The more transactions are executed, the slower the system becomes. It is therefore also said that crypto coins such as the Bitcoin and Ethereum scale poorly. This is one of the reasons why IOTA decided from the beginning not to rely on the block chain but on graphs (tangles). Thus the crypto currency succeeds in coping with very many users and with very large systems.
The name “Iota” is the smallest letter of the Greek alphabet. IOTA also contains the abbreviation for the Internet of Things (“Internet of Things” or “IoT”. What exactly this means, we will clarify in the following.
SELLING IOTA – WHAT IS THE INTERNET OF THINGS?
The Internet of Things describes the attempt to make real existing objects visible on the Internet. In the future, therefore, not only humans should be participants in the Internet, but also robots and machines. This is why the Internet of Things is often referred to in connection with Industry 4.0. You can easily imagine this by means of parcel tracking: Already today, parcels are scanned at certain locations. This allows the recipient of the parcel to check the location of his parcel and the status of his delivery at any time. Queries are made via the Internet. The problem with supply chains in particular is that they have to be fully traceable. This applies in particular to medicines and branded products (for example, clothing and electronic goods). Unfortunately, this is an area in which counterfeits are often found. However, if IOTA is used in such supply chains in the future, the information cannot be changed or falsified afterwards. Therefore IOTA has great potential in this area.
In the future, people could also wear small sensors that permanently measure blood sugar levels, for example. This information can then be sent to the doctor. In this case it is also important that the data can be sent securely and cannot be changed.
FURTHER AREAS OF APPLICATION FOR CRYPTO COIN IOTA
Even a simple object like an office chair can be made “intelligent” with the help of IOTA: For example, every year very high costs are incurred because people sit on incorrectly adjusted office chairs. This causes back problems, which in turn can lead to illness, operations or even early retirement. In the future, chairs could therefore be equipped with sensors and small motors. This would allow the chair to adjust itself optimally to each user (for example, this could be done in the background by the manufacturer and by doctors).
As already mentioned, IOTA is also often mentioned in connection with Industry 4.0. In future factories, robots and machines could therefore process payment transactions with each other. This will be done without any human intervention and without the intervention of a bank. Because of the many possible applications of IOTA, large corporations such as Deutsche Telekom, Fujitsu and Samsung are also interested in the Crypto Coin.
Since IOTA is not based on a block chain, there is no possibility to participate in the mining process to obtain crypto coins. But you can access already existing coins. In the following we will discuss how best to buy and sell IOTA coins.
Sell IOTA Coin: What are the possibilities to trade the crypto currency?
Nowadays, it is fortunately very easy to trade crypto currencies. In order to buy and sell IOTA, one can use the three possibilities mentioned below:
- Digital market places for crypto currencies
- Crypto exchanges
- Crypto Broker (Trading with CFD)
Already briefly after the Bitcoin was developed, the need arose to be able to also trade with the crypto currencies. Therefore the first digital market places developed rapidly. On these the buyers and salesmen meet, in order to act with their Crypto Coins. The individual transactions take place directly between the market participants. The operator of the digital marketplace therefore only provides the necessary infrastructure. However, this system means that the transactions are often quite slow. After the purchase, the buyer must first send the purchase price to the seller, which can take several days.
For this reason, some digital marketplaces now offer the option of using so-called express trading. In this case, the platform operator cooperates with a specific bank. As a customer you can open a current account with this bank, which will then be linked to the marketplace. This way, trading will be faster in the future. However, this also has the disadvantage that you have to open a new current account. Experience shows that this can influence the SCHUFA score.
USE CRYPTO STOCK EXCHANGES FOR SELLING IOTA
Because of the disadvantages described above, many investors and traders prefer to trade on crypto stock exchanges. In contrast to digital marketplaces, the market participants do not interact directly with each other here. Instead, all transactions are handled by the exchange operator. This makes buying and selling IOTA much faster. With a crypto exchange it is necessary to create a user account. In our experience, this can be done within a few minutes with most providers. Afterwards you also have to deposit capital or Crypto Coins into the account. Then you can start trading.
Before you decide on a particular crypto exchange, you should make sure that it offers you trading with IOTA. Because nowadays there are thousands of crypto currencies. For this reason, there is no exchange that can provide you with all crypto coins. However, as mentioned, IOTA is a very popular crypto currency. Therefore it is very likely that you can trade with it at many crypto exchanges. In the following, we will discuss which criteria you should consider when choosing a crypto exchange. We will also introduce two very popular exchanges: Bitfinex and Binance.
IOTA sell Bitfinex: With the Crypto Exchange you can use leverage in crypto trading
First of all, we dedicate ourselves to the popular Crypto Börse Bitfinex. This is one of the largest crypto exchanges in the world. Owner and operator of the platform is iFinex Inc. the company is based in Hong Kong and was founded in 2012. Given the size of Bitfinex, it is not surprising that the Crypto Exchange has been in the media frequently. For example, the exchange has already been the victim of hacker attacks. In the process, it succeeded in stealing Crypto Coins. For this reason, Bitfinex has now strengthened its security measures. This concerns above all the way in which the Crypto Coins are stored.
Sell IOTA Wallet: To store crypto currencies, it is necessary to use a digital wallet. You can use either online wallets or offline wallets. One can imagine a Wallet thereby like a digital purse. An online wallet is always connected to the Internet. Therefore, there is also an increased risk that unauthorized third parties can access the coins. It is therefore better to store larger quantities of coins in offline wallets. Therefore Bitfinex is now also increasingly using this type of wallet to increase security.
IOTA SELL BITFINEX: TRADING ON THE CRYPTO EXCHANGE IS VERY USER-FRIENDLY
Bitfinex security is also enhanced by the fact that the exchange uses two-factor authentication: in order to log in to your account as a customer and to send crypto coins, you must also identify yourself using your smartphone.
In our experience, Bitfinex allows you to trade with a large number of Crypto Coins. In addition to Bitcoin and Ethereum, IOTA is also available. At Bitfinex you have the possibility to use a lever when trading with crypto coins. Many traders already know this type of trading from CFD trading.
To open an account with Bitfinex, only a few steps are necessary. With the Crypto Exchange there is the possibility to deposit not only crypto currencies to the account, but also Euro and US Dollar. However in this case at least 10.000 € are required as deposit. It should also be noted that the Crypto Börse does not offer its customers their own wallet. However, this is not a big deal as there are more than enough alternatives for online and offline wallets nowadays.
Fortunately, the fees at Bitfinex are quite low. The most important thing here is the volume traded:
- 0 – 499.999 US Dollar: 0,10
- 500,000 – 999,999 US Dollars: 0.08
- From 7 million US dollars: No fees for sellers
IOTA Sell Binance: Trade with the crypto currency on the world’s largest crypto exchange
You can also use Binance to buy and sell IOTA. In recent years, Crypto Börse has succeeded in becoming the world’s leading provider. In the past, the company had its headquarters in China and Japan. However, Binance is now based in Malta. The Crypto Börse offers a very wide range of trading options, which now amounts to over 100 crypto currencies.
In the past, Binance also had to fight against hacker attacks. However, those responsible have drawn the right conclusions: In the meantime, Binance also relies heavily on offline wallets. In contrast to Bitfinex, Binance offers the possibility to use a Crypto Wallet. The fees for trading are low at 0.10%, which makes the exchange seconds friendly. In addition it speaks for the company that the platform is very clearly arranged.
It is also worth mentioning that Binance has its own crypto currency. This bears the name “Binance Coin”. The stock exchange promotes its own crypto currency by offering very high discounts if the coin is used for payment. For example, up to 50 % are possible. However, the discounts decrease over time.
If you want to, you can also use a lever at Binance for trading with IOTA. Unlike Bitfinex, the website of the exchange is also available in German, which is very positive.
Conclusion: For IOTA selling, investors and traders can use various possibilities
In this article we have discussed how to trade with the crypto currency IOTA. So you can use digital market places as well as crypto exchanges for buying and selling. Another possibility is to trade with crypto currencies at a crypto broker. CFD trading has many advantages: For example, you can use leverage to increase the purchasing power of your own capital. In addition, you can open an account for trading with most providers with just 100 or 200 €. It is not necessary to deposit 10.000 € (as with Bitfinex however).
To find a good provider for CFD trading, you can use our big broker comparison. This makes it easy to find a good broker for trading with IOTA. If you want, you can also test the trading with most providers on a free demo account without risk.